Here’s the situation, I have a guy who responded to one of my craigslist adds a few month ago who rejected my lowball offer come back to me and say that he really wants to unload the property. It is two adjacent parcels in Lima, OH that are just under half an acre each. The owner obtained these two parcels at a tax sale a few years ago and they are both current in taxes (~$500 combined).
Here are links to the parcels:
The owner said something about there being a slope on the properties and needing to work with engineers to build on it which scares me a little bit. The slope isn’t apparent from google maps although the parcels are heavily wooded but have houses on either side and a lake the next street over. Area looks to be well to do. Looking on Landwatch, there are 10 or so vacant lots listed for 14k each in Lima, OH.
One thing I am worried about is the fact that the owner obtained the deed at a tax sale. Does that mean he will only be able to issue a quit-claim deed assuming he hasn’t done a quiet title action?
I have sent out emails to agents that have land listed in the area and am waiting on a response. I offered the guy $1000 for both last time but might go even lower if I make another offer. Best case scenario would be one of the people who has land in the area is interested and buys it and I get a commission. Am I missing anything?
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